Peoples' Self-Help Housing

The Mission of Peoples' Self-Help Housing is to provide affordable housing and programs leading to self-sufficiency for low-income families, seniors, and other special needs groups on California's Central Coast.

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Peoples' Self-Help Housing E-Newsletter

Santa Barbara's Casas las Granadas Garners Another Award PSHH Approved as Change A Life Foundation Partner United Way of San Luis Obispo County Helps Out Planned Giving Corner - Life Insurance Board News Upcoming Events

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Santa Barbara's Casas las Granadas Garners Another Award

The PCBC (Pacific Coast Builders Conference) announced the Awards of Merit winners for its 2009 Golden Nugget Awards that recognize those who improve our communities through exceptional concepts in design, planning and development.

Out of 375 entries just five projects in the Western United States were singled out for accolades in the "Outstanding Affordable Project under 30 units per acre" category, including Peoples' Self-Help Housing's affordable housing complex called "Casas las Granadas" located at 21 E. Anapamu Street (across from the public library) in Santa Barbara. Detlev Peikert, AIA of Peikert Group Architects was the architect on the project. 

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PSHH Approved as Change A Life Foundation Partner

Peoples' has been approved as a Change a Life Foundation partner organization which makes the organization eligible to submit grant requests on behalf of our low-income residents. The foundation helps individuals and families (through their partner organizations) who, through no fault of their own, have experienced an injury, illness, or catastrophic life event, and who are suffering financial hardship, by providing support for critically needed assistance that promotes their self-sufficiency.

It is anticipated that 6-8 'wishes' a year will be submitted by PSHH Supportive Housing Program clinicians for possible fulfillment by the Foundation. Headquartered in Irvine, the Change a Life Foundation was founded in 2001 by an anonymous donor. PSHH is grateful to the Foundation for this opportunity to work together in future years to help the less fortunate.

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United Way of San Luis Obispo County Helps Out

Many thanks to United Way of San Luis Obispo for two Community Impact Fund grant awards for 2009-2010. The organization awarded $7,500 to support Peoples' Youth Education Enhancement Program (YEEP) and $5,000 for the Housing the Homeless program which supplies much-needed social services to transition homeless into permanent housing.

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Charitable Gifts of Life Insurance

Life insurance is an excellent tool for making charitable gifts for a number of reasons. Life insurance provides an "amplified" gift that enables you to purchase immortality on an installment plan. Through a relatively small annual cost (the premium), a benefit far in excess of what would otherwise be possible can be provided for a charity, such as Peoples' Self-Help Housing. A sizeable gift can be made without impairing or diluting the control of a family business or other investments. Assets earmarked for family members can be kept intact.

For example, a 50-year old committed to giving $5,000 annually for 10 years could leverage the $50,000 gift into a $360,000 gift. A second-to-die, or survivor life policy, adds even more leverage. A 50-year old couple could make a gift of $800,000 with the same $5,000 annual commitment. (Assumes 50-year old(s), preferred non-smoker(s) using variable life policy earning 10% gross return.)

Following are a couple of methods for including life insurance in a charitable gift plan:

1. Make an absolute assignment (gift) of a life insurance policy currently owned, donate a new life insurance policy, or have the charity purchase life insurance on the donor's life and pay the annual premiums (assuming insurable interest and state law permits). Each of these allows a current income tax deduction.

2. Name a charity as the primary or contingent beneficiary of an existing or new life insurance policy. Although this will not yield a current income tax deduction, it will result in a federal estate tax deduction for the full amount of the proceeds payable to the charity, regardless of policy size.

For more information on gifts of life insurance or other planned giving issues, please call Rochelle Rose CFRE, PSHH Development Director for a no-obligation and confidential conversation at (805) 962-5152 x227 or email rocheller@pshhc.org.

Please visit the our GiftLaw pages for articles, updates case studies and valuable information about planned giving opportunities.

PSHH Planned Giving Gift Law Info Pages

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